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Climate finance: the EU delivers more than its fast start finance pledge

European Commission - MEMO/13/433   14/05/2013

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European Commission

MEMO

Brussels, 14 May 2013

Climate finance: the EU delivers more than its fast start finance pledge

"Despite difficult economic circumstances, the European Union has met and even surpassed its fast start finance pledge to developing countries by providing more than €7.3bn of climate finance. This is a very clear demonstration of the EU's commitment to finding a global solution to the benefit of all to the impacts of climate change," said Connie Hedegaard, Commissioner for Climate Action. The ECOFIN Council today adopted a report which shows that the EU provided about a third of the total commitment by developed countries for 2010–2012. At the 2009 UNFCCC Climate Change Conference in Copenhagen, developed countries committed to provide $30 billion for 2010–2012 to enable and support climate-related action in developing countries. The European Union is the largest contributor of climate finance to developing countries. The EU will continue to provide climate finance to developing countries and will in particular support the most vulnerable developing countries, including small island developing states, least developed countries and Africa, in adapting to the consequences of climate change.


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